- Nano One Materials announces the closing of a previously announced strategic equity investment and collaboration agreement with Rio Tinto
- The two companies entered into a collaboration agreement to explore and evaluate opportunities to further drive localization of the lithium ion battery value chain
- Rio Tinto also announced a US$10M investment in Nano One
- A subsidiary of Rio Tinto purchased 4,643,148 common shares of Nano One in a private placement
- The funding will accelerate Nano One’s multi-cathode (multi-CAM) commercialization strategy and support cathode active materials (CAM) manufacturing
- Nano One (NANO) opened trading at C$2.67
Nano One (NANO) has closed a collaboration agreement with Rio Tinto to accelerate Nano One’s multi-cathode commercialization strategy.
Rio Tinto Western Holdings Limited, a subsidiary of Rio Tinto, purchased 4,643,148 common shares of Nano One at C$2.70 per share for a total investment of US$10M.
Nano One issued 1,000,000 non-transferable share purchase warrants to Rio Tinto as payment for their technical and support services.
The funding will accelerate Nano One’s multi-cathode (multi-CAM) commercialization strategy and support cathode active materials (CAM) manufacturing in Canada for a cleaner and more efficient battery supply chain for North American and overseas markets.
Rio Tinto is a mining and metals company operating in 35 countries around the world
Nano One Materials is a clean technology company with a patented industrial process for the low-cost production of high-performance lithium-ion battery cathode materials.
Nano One Materials Corp. (NANO) opened trading at C$2.67.
